Undergraduate

During 2 0 0 8 the S&P 5 0 0 index depreciated by 3 7 . 6 % . Assuming that this trend had continued,

During 2008 the S&P 500 index depreciated by 37.6%. Assuming that this trend had continued, how much would a $7,000 investment in an S&P index fund have been worth after 7 years? (Round your answer to the nearest cent.)

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